Dillard’s (NYSE:DDS) Trading 4.8% Higher Following Dividend Announcement

Dillard’s, Inc. (NYSE:DDS)’s share price was up 4.8% during trading on Tuesday following a dividend announcement from the company. The stock traded as high as $458.34 and last traded at $458.34. Approximately 75,771 shares traded hands during trading, a decline of 36% from the average daily volume of 118,737 shares. The stock had previously closed at $437.14.

The newly announced dividend which will be paid on Monday, January 6th. Shareholders of record on Monday, December 16th will be issued a $25.00 dividend. This represents a yield of 5.64%. The ex-dividend date is Friday, December 13th. Dillard’s’s dividend payout ratio is presently 2.57%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on DDS shares. Telsey Advisory Group lifted their price objective on Dillard’s from $380.00 to $450.00 and gave the company a “market perform” rating in a report on Friday, November 15th. StockNews.com upgraded shares of Dillard’s from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Finally, UBS Group lifted their price target on shares of Dillard’s from $194.00 to $198.00 and gave the company a “sell” rating in a research report on Friday, November 15th.

Dillard’s Price Performance

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.02 and a current ratio of 2.38. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of 11.74 and a beta of 0.89. The company has a 50-day moving average of $404.73 and a 200-day moving average of $398.42.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. acquired a new position in shares of Dillard’s during the 3rd quarter worth approximately $125,388,000. Renaissance Technologies LLC grew its stake in Dillard’s by 36.0% in the 2nd quarter. Renaissance Technologies LLC now owns 124,200 shares of the company’s stock worth $54,696,000 after acquiring an additional 32,900 shares during the period. State Street Corp grew its stake in Dillard’s by 3.7% in the 3rd quarter. State Street Corp now owns 76,515 shares of the company’s stock worth $29,377,000 after acquiring an additional 2,758 shares during the period. Hexagon Capital Partners LLC grew its stake in Dillard’s by 16.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 49,006 shares of the company’s stock worth $18,803,000 after acquiring an additional 7,006 shares during the period. Finally, American Century Companies Inc. grew its stake in Dillard’s by 2.0% in the 2nd quarter. American Century Companies Inc. now owns 42,803 shares of the company’s stock worth $18,850,000 after acquiring an additional 830 shares during the period. 67.15% of the stock is currently owned by institutional investors and hedge funds.

About Dillard’s

Dillard's, Inc operates retail department stores in the southeastern, southwestern, and midwestern areas of the United States. The company's stores offer merchandise, including fashion apparel for women, men, and children; and accessories, cosmetics, home furnishings, and other consumer goods.